Are Entrepreneurs Born or Built Successful?

Entrepreneur Habits

Recent tech success stories out of Silicon Valley have generated the idea that anyone who can get VC investors can launch a company and become a successful entrepreneur.

The ultimate collapse of a lot of those start-up businesses has Wall Street rethinking what makes a business leader able to launch a successful startup. It isn’t merely money and a fantastic idea that builds great business, it is great leaders. Americans should reconsider what it means to become an business startup leader.

The term entrepreneur pertains to a person that has established a business…However, it’s more than this; it’s a specific set of abilities and features which are innate in some people or can be learned by passionate individuals. The push to become an entrepreneur is clear to those people in their youth which drives them to begin their own company. If you started your own business designing logos on 99designs then you know you are a natural-born entrepreneur.

Many prosperous startup businesses are established by those that possess a distinct entrepreneurial personality, which scientists dubbed the Entrepreneur Gene, and personality traits that are special in the business world.

Attributes of Successful Entrepreneurs

Entrepreneurs are Created Differently

Researchers have found that entrepreneurial brains are different and they’ve termed this gap “entrepreneurial cognition.” This usually means the methods entrepreneurs use to make decisions is significantly different than full-time corporate workers. Neuroscientists have ascertained that the women and men who eventually become successful entrepreneurs possess a high need for novelty and liberty, and they’re also highly exploratory, spontaneous, optimistic, enthusiastic and responsible.

This does not indicate they don’t need years of formal schooling, business expertise, and business knowledge – they do.  It’s their internal entrepreneur which compels them to obtain this technical training and skill to establish their company. You know you are an entrepreneur if you spend your weekends building an online business.

However, with the right motivation and open mindset, determined individuals without these natural traits can be effectively taught entrepreneurship. Entrepreneurship Professor Julian Lange, of Babson College, states, “Much of the recent research shows that entrepreneurship can be taught. Maybe, simply put, you can’t teach someone to be passionate about entrepreneurship. On the other hand, I’ve been teaching for 20 years, and in my experience people can definitely discover their passion for entrepreneurship in the classroom. And in terms of general skills, if they start out with interests or endowments that make them more likely to be entrepreneurs or less likely, you can enhance their ability to be entrepreneurs through teaching.”

Attributes of Successful Entrepreneurs

Great Salesman

All business owners will need to understand how to sell. Whether they are promoting their business plans to shareholders for company loans, or if they’re promoting their company mission to their workers, their sales abilities are essential to their win.

Drive for Success

Your enthusiasm for achievement and success may power your entrepreneurial ventures. This is a different kind of mindset compared to that of a “for hire employee”. Several of the most prosperous entrepreneurs came from modest beginnings that drove their desire for achievement. This internal drive will inspire them and keep their spirits up to perform the grueling schedule required to create your own business triumph.

Independent Mind

As an industrialist, you steer your ship as Captain. You have to rely on your own wits and no one else, so you want to consider yourself and plan to make tough choices. Most entrepreneurs have an extraordinarily powerful instinct and self confidence. They are in charge of their own lives, their businesses, and their workers, and they care deeply. They set goals and write them down and refer to them often.

Know Buyers Motives

To be successful as a company owner, you have to genuinely understand your clients and why they purchase your products. You need to deeply understand their lifestyles and motives. This implies understanding the real reason they are buying, not just the one they prefer to talk about. Should you genuinely comprehend their psychology, their lives, their own needs, you will probably know what they will buy before they reach for their wallets.

Committed to the Long Range View

Small business executives know it takes time build a company and they’re able to diligently labor to reach their objectives. This can be hard for excited, fast moving entrepreneurs to do in real life. But it’s a characteristic they need to learn if they intend to be successful.

Highly Motivated

Entrepreneurs like to get the job done. In reality, they’re jazzed about the actions and goals they’ve set for their new organization. They are significantly separate from those folks whose job life is merely a way to make money. Please don’t be duped into believing the lifestyle of an entrepreneur, though the work hours are flexible, it’s not a modest nor straightforward job commitment. Most of them work over 40 hours weekly during their startup periods. That is the reason it’s vital that they’re highly engaged to voluntarily continue this demanding pace.

Love to Break Rules

Most entrepreneurs hate rules. They’re always saying, Why don’t we try this instead? Or can’t we do it like this? While corporate kinds are pleased to follow the company, the entrepreneur hates the limitation and apparently stupid set of rules. They can see their commercial vision a much better, and frequently more rewarding method to get the very same objectives. Often the exasperation with business rules encourages people to establish their companies rather than accept the corporate dogma.

Positive Mindset

The top industry Entrepreneur media has ascertained that business starters are very optimistic. This is particularly significant since scientists have found that negative feelings can reduce the minds capability to think creatively and broadly. These people see trials as challenges as well as the resolution of the puzzle as exciting and entertaining.

Take calculated risks

In contrast to some people’s opinion, entrepreneurs don’t enjoy high risks. Individuals who have a strong demand for safety see them as such, however, the belief is false. Entrepreneurs compute their risks by performing analysis, research and consulting with other consultants. They weigh the advantages and disadvantages of dangers and always have another strategy to safeguard their organization and assets.

Lifelong Learners

The main task for the majority of business people is learning new abilities. Whether it’s the way to handle social websites, or decrease expenses, or to enter a new trade, entrepreneurs want to always be growing and learning to be successful.

The best entrepreneurs are lifelong students. They learn officially in books, classes, seminars and by studying business publications and informally by studying entrepreneur sites, like this one, and from business experience of problems and solutions.

Certainly, many individuals with a basic education can manage a company reasonably well. But the majority of them don’t have the spirit of an entrepreneur that is going to make a straightforward business into a prosperous firm. To be the leader of a growing company, you need to possess these attributes or learn these and the skills necessary to succeed.

About the Author:

Marsha- Author BioAuthor of this post, Marsha Kelly, sold her first business for more than a million dollars. She’s shared hard-won experiences as a successful serial entrepreneur on her Best4Businesses small business blog. Marsha also regularly posts business tips, ideas, insights and suggestions as well as product reviews for business readers. As a serial entrepreneur who has done “time” in corporate America, Marsha has learned what products and services really work well in business today. You can learn from her experiences from shopping the internet for tools, supplies, and information to build your businesses and improve lives financially.

Part-Time Entrepreneurship- Everyone Should Have A Side Hustle!

Entrepreneurship Tips

I believe everyone should have a part-time entrepreneurship mindset if they are still working a day job and aspire to do more with their life at some point.

I also believe that everyone should have a part-time side hustle, project, business (whatever you wanna call it) no matter how busy their lives are.

You should ALWAYS be building something up on the side that will eventually create more freedom down the road for you.

If you’re reading this post right now, that most likely tells me that you’re either really into Internet Marketing or are looking for ideas on how to generate an extra stream of income…awesome!

Let’s dig into why starting something up on the side and being a part-time entrepreneur (to start) is a wonderful thing.

Part-Time Entrepreneurship- Why You Should Strive For It

First I wanna make myself clear…the end goal is always to be a full-time entrepreneur, however I realize that there are many people who read this blog that still work full-time jobs (including myself).

This is why I recommend having the goal of being a part-time entrepreneur to start…meaning hustle your butt off on weeknights, weekends and early mornings to make your dream happen.Part-Time Entrepreneurship

It’s a grind but the rewards can be priceless.

Another word of advice is to never just quit your job to focus on your side-hustle…trust me on this one.

Instead use your job as leverage.

But back to my points on part-time entrepreneurship and why you should strive for it.

1.) Creates Options

It gives you more options in life than just a paycheck…Unlike a day job, creating an income for yourself has no boundaries…You can simply make as little and as much as you want, it’s up to you.  This leads to more options and opportunity in your life.

2.) Extra Cash

Being a part-time entrepreneur (once you start seeing results) can generate some much needed extra cash.  This extra cash outside of your paycheck can truly be life-changing…Maybe it helps pay the rent, allows you to take an extra day off (or eventually quit your job), allows you to make some pleasure purchases or just gives you more flexibility in your budget…Extra money never hurts!

3.) Freedom

This kind of goes hand in hand with point #1, however it’s still worth mentioning as I think this is the main goal for many aspiring entrepreneurs.  When you no longer need to rely on a paycheck or 9-5 job because your side hustle is producing enough for you to live off of, this creates tremendous freedom…Freedom from time, punching in a clock and from much stress.

Another point I could have added to this list is that it allows you to work more towards a passion of yours instead of just doing something for a paycheck.

Hopefully, you are considering starting something up on the side or maybe you already have started something…kudos to you.

The idea here is to always be working on something, always be building and always be growing.

The possibilities are endless, especially with he power of the Internet.

The time is now to take advantage!

Have you started your side hustle yet?

Do Not Quit Your Job- Stay Put For Now!

Don't Quit Your Job

Attention!

Some of you may not like to hear this, but if you are an aspiring entrepreneur and still do not have a consistent income coming in from your business…Do Not Quit Your Job!

Yes that’s right, stay put at your current job as it is providing you with the necessary income you need to invest in your business.Entrepreneur Tips

Even though I make a full-time income with my online businesses, I still choose to work a day job…Why?

1.) I really enjoy my current line of work as an SEO specialist.

2.) It gives me extra money to invest in my business ventures.

3.) It allows me to invest more towards my retirement.

4.) It provides me with great benefits.

5.) It gives me options and flexibility, allowing me to take more educated risks.

Even though freedom is a major goal for many entrepreneurs, it’s important that you do not quit your job too prematurely.

Jobs Can Open Up Many Entrepreneurial Opportunities

Similar to some of the points I noted above, the right job can provide you with the skills you need to start up a business, or supplement your current business you are working on.

For example, the SEO (search engine optimization) skills I have learned at my current place of work will be a great resource I can utilize in my entrepreneurial endeavors going forward.

Believe it or not (even if you hate your job), every position teaches you valuable skills and lessons that you can use to improve your business.

Whether that’s sales skills, people skills, technical skills, management skills…you name it, you can use it to better your business.

Which gives you a much better chance of succeeding as an entrepreneur.

Use Your Job As Leverage For The Time Being

It’s important that you shift your mindset and not look at a job as something that is holding you back.

Think of this as a temporary phase in your life and use your job as leverage for your business.

This will allow you to sock away more money for emergencies, invest more in your business and invest more in your retirements accounts etc.

When you adopt this mindset for the time being, it can be really powerful.

Now I want to make clear that of course when you are making enough consistent money from you side projects/businesses/investments you have the option to quit your job and break free.

All I’m saying is, do not rush this process as you want to make sure you are as prepared as possible before you make the self-employment leap.

Looking back, you will be happy you saved more money and can now focus more of your attention on your business.

This may be more of a conservative approach for some, but I think it is a smart strategy rather than having nothing to fall back on and especially if your business is struggling.

Be methodical and make the decision that makes sense for you.